Rehmann Capital Advisory Group Sells 989 Shares of Albemarle Corporation $ALB

Rehmann Capital Advisory Group lowered its stake in shares of Albemarle Corporation (NYSE:ALB) by 23.3% during the second quarter, Holdings Channel.com reports. The institutional investor owned 3,250 shares of the specialty chemicals company’s stock after selling 989 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Albemarle were worth $204,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALB. FengHe Fund Management Pte. Ltd. acquired a new stake in shares of Albemarle during the second quarter worth about $32,903,000. PGGM Investments raised its position in shares of Albemarle by 90.4% during the second quarter. PGGM Investments now owns 1,069,924 shares of the specialty chemicals company’s stock worth $67,052,000 after purchasing an additional 507,975 shares during the period. Nuveen LLC acquired a new stake in shares of Albemarle during the first quarter worth about $26,836,000. Dimensional Fund Advisors LP raised its position in shares of Albemarle by 28.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,538,706 shares of the specialty chemicals company’s stock worth $110,814,000 after purchasing an additional 343,210 shares during the period. Finally, Vest Financial LLC raised its position in shares of Albemarle by 55.4% during the second quarter. Vest Financial LLC now owns 959,978 shares of the specialty chemicals company’s stock worth $60,162,000 after purchasing an additional 342,321 shares during the period. Institutional investors own 92.87% of the company’s stock.

Albemarle Trading Up 8.5%

NYSE ALB opened at $105.65 on Friday. The company has a market cap of $12.43 billion, a PE ratio of -11.34 and a beta of 1.65. The company has a current ratio of 2.31, a quick ratio of 1.47 and a debt-to-equity ratio of 0.38. Albemarle Corporation has a 12 month low of $49.43 and a 12 month high of $113.91. The stock has a 50 day moving average of $85.52 and a 200-day moving average of $71.46.

Albemarle (NYSE:ALB) last released its quarterly earnings data on Wednesday, July 30th. The specialty chemicals company reported $0.11 EPS for the quarter, beating the consensus estimate of ($0.83) by $0.94. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.23 billion. Albemarle had a negative return on equity of 1.87% and a negative net margin of 18.61%.The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.04 EPS. Albemarle has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Albemarle Corporation will post -0.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ALB shares. Truist Financial raised their price target on Albemarle from $72.00 to $87.00 and gave the stock a “hold” rating in a research report on Monday, October 20th. Scotiabank boosted their target price on Albemarle from $65.00 to $70.00 and gave the company a “sector perform” rating in a research note on Friday, August 1st. TD Cowen upped their price target on Albemarle from $70.00 to $85.00 and gave the stock a “hold” rating in a research report on Thursday, October 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Albemarle in a research note on Friday. Finally, Zacks Research upgraded shares of Albemarle from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, fourteen have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $95.33.

Albemarle Profile

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Energy Storage, Specialties and Ketjen. The Energy Storage segment offers lithium compounds, including lithium carbonate, lithium hydroxide, and lithium chloride; technical services for the handling and use of reactive lithium products; and lithium-containing by-products recycling services.